Press release
On the Go Packaging Market is projected to grow USD 3.34 billion by 2032, exhibiting a CAGR of 5.71%
On the Go Packaging Market
On the go packaging solutions, such as bottles, pouches, trays, and cups, are used for meeting the needs of consumers requiring portability and convenience in daily lives. The escalating product adoption across the food and beverage industry is slated to drive industry expansion.
During the COVID-19 pandemic, the demand for on the go packaging recorded a downturn considering the shift to remote work and the enforcement of lockdown restrictions by the governments of several countries.
Fortune Business Insightsโข provides this information in its research report, titled "On the Go Packaging Market Size Report, 2024-2032".
Get a Free Sample Report- https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/on-the-go-packaging-market-110572
Competitive Landscape:
Key Players Emphasize on the Provision of Advanced Solutions to Secure an Edge over Competitors
Leading market players are providing innovative packaging solutions to gain an edge over competitors. They are also centered on the expansion of their consumer base across several regions to increase their on the go packaging market share. Berry Global Inc. and Mondi Group are some of the key players in the global market.
Key Industry Development:
June 2024 - Smurfit Kappa inked an agreement for the acquisition of Artemis Ltd. The move would help the company's expansion in Eastern Europe. Furthermore, the deal would improve the innovation capabilities of the company and its product portfolio in the bag-in-box industry.
List of Key Players Mentioned in the On the Go Packaging Market Report:
Amcor Plc (Switzerland)
Mondi Group (U.K.)
Berry Global Inc. (U.S.)
Huhtamaki Inc. (Finland)
Graphic Packaging International, LLC (U.S.)
Constantia Flexibles (Austria)
Sonoco Products Company (U.S.)
Tetra Pak (Switzerland)
Stora Enso (Finland)
Impact Consumer Products Group (U.S.)
Sealed Air Corporation (U.S.)
Winpak LTD. (Canada)
WestRock Company (U.S.)
Glenroy, Inc. (U.S.)
SIG Group (Switzerland)
On the Go Packaging Market Segmentation:
Plastic Segment Held Key Share Due to Rising Product Adoption
Based on material, the market is categorized into paper & paperboard, plastic, metal, and others. In 2023, the plastic segment held a dominating market share owing to surging product adoption on account of durability and versatility.
Single Use Segment Accounts for Pivotal Share Owing to Presence of Established Supply Chains
On the basis of type, the market is divided into reusable and single use. The single use segment records a major share as the products are designed for immediate and easy use and the presence of established supply chains across the globe.
Bottles Segment Bags Dominant Share Driven is by the Benefit of Extensive Surface Area
By product type, the market is subdivided into trays & clamshells, bottles, cups, cans, boxes & cartons, bags & pouches, and others. The bottles segment holds key share due to the advantage of an extensive surface area for branding.
Quick Serving Restaurants Segment Registers Major Share Owing to Heavy Dependence on the Product
Based on application, the market is fragmented into quick serving restaurants and food delivery services. The quick serving restaurants segment accounts for leading share owing to heavy dependence on on the go packaging solutions for maintaining food quality.
Based on geography, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report presents an analysis of the industry on the basis of material, type, product type, application, and geography. It further gives an insight into the key steps adopted by major players. The latest trends in the market and the major factors impelling industry expansion have also been presented in the report.
Drivers and Restraints:
Rising Urbanization and Change in Consumer Lifestyles to Propel Industry Expansion
Soaring urbanization and shift in consumer lifestyles are slated to boost the demand for convenient food and beverage options. The demand for ready-to-eat snacks, meals, and beverages surges with a rise in the number of people moving to urban areas. The concentration of quick-service restaurants, convenience stores, and retail outlets in these areas is poised to propel on the go packaging market growth.
Nonetheless, concerns associated with waste generation may create challenges for industry expansion.
Get a More Info- https://www.fortunebusinessinsights.com/on-the-go-packaging-market-110572
Regional Insights:
Asia Pacific Accounts for Major Share Owing to a Rise in Quick-Service Restaurants
Asia Pacific records a dominant market share considering the surge in quick-service restaurants and food delivery platforms. In addition, the region records a rapidly growing population. In 2023, the regional market size stood at USD 0.72 billion.
The presence of a significant number of QSRs in Canada and the U.S. are slated to drive the demand for on the go packaging solutions in North America. The region holds the second-leading share of the global market.
Related Reports-
Retail Ready Packaging Market - https://www.fortunebusinessinsights.com/retail-ready-packaging-market-104915
Aluminum Foil Packaging Market - https://www.fortunebusinessinsights.com/aluminum-foil-packaging-market-108056
Paper Cups Market - https://www.fortunebusinessinsights.com/paper-cups-market-105010
Food Packaging Market - https://www.fortunebusinessinsights.com/industry-reports/food-packaging-market-101941
Metal Packaging Market - https://www.fortunebusinessinsights.com/metal-packaging-market-103867
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